Emerging markets calendar: Indonesia roadshowing benchmark sovereign

JANUARY

INDONESIA: Benchmark-sized sovereign bonds (Ba3/BB-/BB-); Barclays, HSBC, Lehman Brothers (joint books); Rule 144A/Regulation S; roadshow Jan. 8 to Jan. 11.

USINAS SIDERURGICAS DE MINAS GERAIS SA: $400 million 10-year bullet bond (Baa3/BBB-/BBB-); JP Morgan, UBS (joint books); Rule 144A/Regulation S; make-whole call at Treasuries plus 50 bps; change of control put at 101; Belo Horizonte, Brazil-based steel producer; roadshow week of Jan. 7.

ON THE HORIZON

AGILE PROPERTY HOLDINGS LTD.: Up to $400 million senior notes (Ba3/BB) in fixed- and floating-rate tranches; HSBC; Rule 144A/Regulation S; to finance new and existing projects; Hong Kong-based property developer; roadshow, started Nov. 5 to include Asia, Europe and United States; pricing originally expected early Nov. 12 week.

BANK MANDIRI: $300 million three-year bonds; originally expected in October or November; Jakarta, Indonesia-based commercial and retail bank.

BMCE: Euro-dominated 10-year fixed-rate bonds; non-callable for five years; Casablanca, Morocco-based commercial and investment bank.

CORPORACION ANDINA DE FOMENTO: Three-year samurai bonds; Nomura Group; Caracas, Venezuela-based development bank; initial guidance yen Libor plus 30 to 37 bps.

EGYPT: Egyptian pound-denominated eurobonds (Ba1/BB+/BB+); HSBC, Merrill Lynch (joint books); pricing expected in 2008.

EMPRESA DE TELECOMUNICACIONES DE BOGOTA: Bond issuance; Merrill Lynch, Deutsche Bank (joint books); Bogota-based telecom provider.

INDUSTRIAL BANK OF KOREA: ¥50 billion senior unsecured bonds (Aa3/A/) in two-year and five-year tranches; JP Morgan, Mizuho Securities, UBS (joint books); Seoul-based commercial and retail bank.

JEBEL ALI FREE ZONE FZE: $1.5 billion to $2 billion conventional dollar bonds and dirham-denominated floating five-year sukuk (A1/A+); Barclays, Deutsche Bank, Dubai Islamic Bank, Lehman Brothers (joint books); Dubai-based trade zone authority; roadshow from Nov. 11 to Nov. 16.

KOOKMIN BANK: Up to $300 million five-year bonds (Aa3/A/); Barclays Capital, Citigroup, Merrill Lynch (joint books); Seoul-based commercial and retail lender.

LITHUANIA: Benchmark-sized euro-dominated bonds (//A); Societe General, UBS (joint books).

METRO COUNTRY CLUB: $110 million private placement deal in two tranches; $75 million six-year senior secured tranche (//B-) and a $35 million seven-year subordinated payment-in-kind tranche; Stephens; Juan Dolio, Dominican Republic-based real estate developer; initial guidance at 12% for senior secured tranche, 13½% for subordinated tranche.

NET SERVICOS DE COMUNICACAO SA: $200 million 10-year offering of bonds, Sao Paulo-based cable television operator.

QUEZON POWER LTD.: $100 million subordinated notes; Manila, Philippines-based energy provider.

ROMANIA: €500 million 10-year eurobond; Credit Suisse, UBS, Eurobank EFG (joint books); planned in the first half of 2008.

UNITED TEST & ASSEMBLY CENTRE LTD. (UTAC): $475 million senior notes due 2015: $275 million senior cash-pay notes and $200 million senior PIK notes; JP Morgan, Merrill Lynch, ABN Amro; non-callable for four years; to finance LBO; Singapore-based semiconductor testing and assembly company.

JSC FEDERAL GRID CO.: Benchmark-sized five-year ruble-denominated notes (Baa1/BB+); Barclays; Regulation S; Moscow-based long-haul energy supplier; roadshow Nov. 8 in the Netherlands, Nov. 9 in Germany, Nov. 10 in London.

SISTEMA JSFC: 6 billion ruble bond; VTB Bank, Rosbank (joint books); proceeds for refinancing, future investments; Moscow-based conglomerate with holdings in telecommunications and technology.

ROADSHOWS

Jan. 7 to Jan. 10: USINAS SIDERURGICAS DE MINAS GERAIS SA: $400 million 10-year bullet bond; JP Morgan, UBS (joint books)

Jan. 8 to Jan. 11: INDONESIA: Benchmark-sized sovereign bonds; Barclays, HSBC, Lehman Brothers (joint books)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.